eCapital provided a $5 million factoring facility to an importer and distributor of wine and spirits. The beverage company will use the factoring facility to support its new imported product available for purchase from retailers such as Costco, Total Wine & More and BevMo!, among others in select states across the United States.
eCapital partnered with a third-party purchase order finance company to coordinate the agreement.
“When working with a rapidly growing business, time is a critical factor because of the need to meet distributor and shipping timelines requiring a quick turnaround for approval,” David Ciccolo, president of eCapital Commercial Finance, said. “eCapital was able to provide an all-encompassing financing solution by working with a third-party supply chain finance lender and complete the agreement within 10 days, which was the deciding factor for the company selecting eCapital. In addition, as a business experiencing rapid growth, the company chose eCapital because we could provide the capital necessary that would have otherwise been challenging to obtain through applying for a traditional banking line of credit.”
Through its commercial finance and freight factoring divisions and its portfolio company Gerber Finance, eCapital, offers alternative finance solutions to a range of industries.
